Real Madrid star on Chelsea, Arsenal radar

Real Madrid midfielder Luka Modric could make a surprise return to the Premier League with Chelsea and Arsenal vying for his services, Spanish source Diario Gol claims.

The Croatia international has been a huge hit during his time at the Bernabeu, helping the Spanish giants lift the Champions League in two of the last three seasons.

According to The Express, via Diario Gol, the European champions could part ways with the 31-year-old in the summer with club president Florentino Perez looking into the future.

Perez is said to want a couple of youngsters to integrate into the squad, and for this, he is prepared to offload some of the old guard which includes the likes of Modric.

Preferably, Modric would prefer a return to former club Tottenham Hotspur, but the north London club are not in need of midfield reinforcements after having built a dream team under Mauricio Pochettino.

Both Chelsea and Arsenal are looking to rebuild their midfield during the summer with the former eager to add more options ahead of their return to the Champions League next term.

Modric has appeared over 200 times for the La Liga giants since moving from White Hart Lane for a &pound30m fee in 2012.